I used Prestone for years, thinking it was the same old "green" stuff it had always been - until the water pump gasket started leaking and there was no good reason why. Dex-cool type coolants eat gaskets in motors not designed for Dex-cool (and sometimes even in motors designed for Dex-cool), or if you mix Dex-cool with other coolant types. I switched to Zerex G-05 and the leaks went away and cooling performance is great.
Redline water wetter is something for vehicles that are used on a racetrack - since most tracks completely ban using actual antifreeze/coolant because it's toxic, but also since it's super slippery if it gets on the track (either from a leak, burst hose, or a collision) and is both a danger while it's on there and a pain to clean up. They run it with water as a substitute for coolant, so it still raises the boiling point of the water, preventing the water from boiling at engine temps, but it's not as toxic nor much of a hassle to clean up, seems like it can just be washed away with water.
As for using it in a street vehicle, sure, you can, BUT actual antifreeze/coolant gives better protection against rust and corrosion, which is actually the point of using it. Straight water with no antifreeze/coolant actually transfers heat better than a mix of water/coolant, but of course the water by itself in a motor will rust a steel block and heads, and corrode aluminum heads, water pumps, intakes, etc. The antifreeze/coolant also gives protection against freezing and boiling so the vehicle can operate in a wide temperature range. Water wetter raises the boiling point, and also gives some rust/corrosion protection, but does not give any protection against freezing.
I know the companies that make the stuff also market it as being an additive to a water/coolant mix, but that's a marketing gimmick to just sell it to more people in the auto parts stores. It might actually improve cooling in some vehicles, but that's because those vehicles have coolant that is old or the system has too much coolant which is inhibiting heat transfer.
A cooling system that has the proper 50/50 mix of water and coolant with no mechanical issues is generally the best all-around solution for a daily driver.
If you want slightly better cooling, and live in a climate where it never gets cold, you can go down to about a 30% coolant mix (70% water, 30% coolant) and get better cooling (since more water allows better heat transfer), while still getting rust and corrosion protection from the antifreeze/coolant. If it gets cold though, such a mix is not going to give protection from freezing at temps as low as a 50/50 mix. A 70% coolant, 30% water mix actually gives the most protection from freezing in really cold climates.
.
